FINANCE
2020-06-18 07:22:00
The President of the European Commission offered to MEPs in Brussels a plan called "the next era EU". It is aimed toward the economic recuperation of the European Union after the pandemic and recession.
Ursula von der Leyen proposed to allocate 500 billion euros in grants and 250 billion in loans to all member countries. The quantity might be covered inside the Union's seven years price range, borrowed on its behalf, and becomes a common debt.
"The money could be raised by temporarily elevating the ceiling for its personal sources," von der Leyen stated. - This will permit the Commission to apply its sturdy credit score to borrow cash within the economic markets. This is an urgent and great need for an urgent and amazing crisis."
The nations maximum stricken by the coronavirus, including Italy and Spain, are allotted irrevocably eighty billion euros. Others, mainly Greece, acquire 20 billion euros because of the fact that their economy is likely to go through enormous damage.
The head of the European Commission confident the deputies that the bundle of latest allocations will ensure overcoming the disaster and further development of the European Union.
"They could be included inside the lengthy-term Union finances in addition to the 1.1 trillion euros which might be there," von der Leyen stated. "The subsequent-technology EU plan and the main EU monetary plan will quantity to at least 1,80 trillion euros in accordance with state-of-the-art proposals."
"These proposals are important as a step forward closer to a extra integration for European Union. But they are not final. They also will be discussed and authorized with the aid of the member states and the European Parliament. Many extra disputes and compromises may be expected within the coming weeks»
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